Tokio Marine appoints new CEO for Asia region; Ben Rudd made CEO of Prudential Wealth Management; HKEX hires from Prudential; Samsung SRA appoints former KIC infra head as CEO; HSBC Asset Management appoints senior vice president; Morningstar names head of manager research for Europe and Asia; PGIM adds ESG lead for Europe and Asia; Apex Group adds Singapore managing director; and more.
ôThe idea is to put together leading examples of every kind of major service for investors,ö says Alvin Lee, managing director at RiskMetrics in Singapore. ôThe two businesses are different but the clients overlap. So what else can we do for them?ö
Ron Papanek, director of strategy at RiskMetrics in New York, says clients, including hedge funds, asset management companies and banks, require a growing range of services as areas such as risk management and corporate governance grow more complex.
He would not reveal other ideas that the firm hopes to pin onto an integrated suite. Although the delivery platforms may vary, RiskMetrics wants to grow services that provide analysis, data and processing for institutional investors. For example, Papanek says RiskMetrics will be able to use ISS data within its own risk-management analytical framework.
ôThis merger isnÆt about cost savings,ö Papanek says. ôItÆs about growth. We will pull together these two businesses so that we can deliver services that donÆt even exist yet. Investors donÆt just need processing but they also need guidance about best practices, and we can apply this to other areas.ö
RiskMetrics was spun out of JPMorgan in 1998. It covers the region from offices in Singapore and Tokyo. ISS has a large operation in Manila, as well as offices in Tokyo and Sydney. Lee says no decisions have yet been made regarding how these offices will be managed, noting that the deal wonÆt close until December or January.
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China Life names Yuan Changqing as acting chairman; Future Super hires operations chief; China Life Franklin Asset Management CIO and deputy CEO leave; Willis Towers Watson has hired Kameswara Natakusumah as head of Indonesia; Prudential hires ex-Apac CEO for Allianz George David Sartorel as a non-executive director; Manulife IM hires into multi-asset solutions team in Asia; PineBridge Investments hires from BNY Mellon IM; and more.
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